{"id":26618,"date":"2012-11-15T13:34:03","date_gmt":"2012-11-15T11:34:03","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=26618"},"modified":"2012-11-15T13:53:59","modified_gmt":"2012-11-15T11:53:59","slug":"new-mobile-only-bank-to-launch-in-sa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/mobile\/26618\/new-mobile-only-bank-to-launch-in-sa\/","title":{"rendered":"New mobile-only bank to launch in SA?"},"content":{"rendered":"

A new mobile bank is believed to be launching in South Africa, with big names behind the business including MTN<\/a>, Pick N Pay<\/a>, and Boxer Superstores<\/a>.<\/p>\n

The mobile bank is believed to be called Tyme (Tyme-Capital), as listed on the following\u00a0website<\/a> address\u00a0and seen by BusinessTech before it was abruptly taken down at around midday on Thursday (15 November).<\/p>\n

MTN responded with the following statement: \u201cMTN would not like to comment on speculation\u201d.<\/p>\n

BusinessTech took screenshots of the site before it was removed.<\/p>\n

Arrie Rossouw<\/a> tweeted the news on Thursday. Rossouw said that his relationship in the venture involved pinless airtime.<\/p>\n

\"Arrie<\/a>

Arrie Rossouw tweet<\/p><\/div>\n

According to the website, Tyme is a distribution channel of the South African Bank of Athens.<\/p>\n

It is unclear how the new venture is related to MTN\u2019s Mobile Money product, a partnership the operator launched with Standard Bank several years ago.<\/p>\n

According to the website:<\/p>\n

\u201cMobile Money is a simple day-to-day transactional account that gives you access to your cash anywhere you are and at any time. Send money, buy airtime and electricity or deposit and withdraw cash at all Pick n Pay and Boxer till-points, at no monthly fee and no minimum balance to activate. All you need to qualify for Mobile Money is to be over the age of 16 and have a valid South African ID number.\u201d<\/p><\/blockquote>\n

Under features and benefits, the site claims the following:<\/p>\n